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on hand and when sandy had, the amount paid out exceeded the cash on hand in our existing borrowing authority. so congress has to appropriate almost $9 billion so we could go out and borrow enough money to pay those claims off. who is paying the interest on that? who was ultimately sat with the data if the insurance policies never pay that off? do the taxpayer. you are the insurance come me. it's called the national flood insurance program. you are responsible for that exposure and at the point where fema can no longer borrow enough money for congress cannot find my money, we will build a payer claims that the fault, which means it will come back to you the taxpayer to make up the difference. why was the flood insurance program created in the first place? remember that saying about it might be assigned? from the private sector said the risk and exposure to flooding is greater than our ability to make returns for shareholders. first of all, insurance companies are not evil people. they have a job to do to manage risk in such a way they can provide coverage at a rate which they pay ou
'll tell you one very personal and it do. three days before the sandy hook shooting us in denver, colorado on personal business and writing to the denver suburbs and i passed into a rural, colorado and saw the sign and thought to myself, as journalists often do, this just disappeared from our landscape. it happened not that long ago in which a young man who appears to be utterly to range, went into a movie theater and began shooting people with an assault weapon. and it went away. it was not part of the presidential debate coming apart at the fabric of our lives, not to do the diet. so on that wednesday night, i e-mailed the producer of the "meet the press" show coming up on that sunday in which they would be talking about big ideas america needs to be thinking about. and i said, you should put shooting at the top of the list. we have been through aurora, the sikh temple, the oregon shopping mall. this was before we got to sandy hook and newton. we had a time of absolute carnage in america to say nothing of what was going on in the city of chicago in most urban areas around america. 506 ho
of you are helping to lead efforts to heed and to honor the lessons of sandy hook elementary school and the realization that unacceptable levels of gun violence plague our cities and towns every day. now, this unspeakable tragedy, but also the individual tragedies that take place on your streets all too often and all too often unnoticed, stand as stark reminders of our shared responsibility to address not just the end dem cantic of gun-related crimes and the ongoing need for vigorous enforcement of our laws, but also the underlying conditions that give rise to gun violence. throughout our history the overwhelming majority of american gun owners have been responsible, law-abiding citizens. yet we have repeatedly seen in the most tragic ways how easy it can be for dangerous people to acquire and to wreak havoc with deadly weapons. now, although there's no single solution that can bring a decisive end to this senseless violence, it's incumbent upon each of us to try. and it's time to consider what common steps we can take together to save lives. you know, this means doing everything th
themselves down. so super storm sandy in the midwest and impact on agriculture, bodleian flyers, the earthquake, tsunami and it clear reactor accident in japan last year, haiti earthquake. the list is long and worrying. in 2011, we had more disasters in the united states costing over a billion dollars. in fact, even more disasters, but not quite as many in 2012. the drought is super storm are hugely expensive. so disasters are happening with greater frequency, greater severity and absolutely with much, much greater cost. so we are here over the next three days to work across traditional boundaries to connect scientists as part tichenor's, with policymakers from the international to the local level, with conservation organization, with corporations and it is our belief that only, i want to emphasize only by working together can we solve these immense challenges that face us. and the costs are not simply financial, but as we tragically know, and many, many lives are lost in these disasters. and so, if we can come up with just one useful idea in the next three days, the benefit, ev
. but there really was a balance sheet driven industry. and along came my friend sandy lyle who i referred to earlier, a brilliant fellow, who through the travelers transaction figured out a way in essence to transform banking to an income statement driven system. i've been a hedge fund for years, as you mentioned. i cared about what i made every year, and it was a different culture than that i experienced as a banker. so i'm not sure we can stuff dodd-frank, that gene, back in the bottle. i'm not saying, we're not saying, our teams are not saying that the holding copies cannot engage in these other activities but other activities but what we're saying is they will not have government guarantees. they will not be able to borrow from the discount window, plain and simple. every simple. everyone of their clients will acknowledge the fact that that money is at risk. so it's not forbidding. it doesn't formally split, but it applies to guarantees only to specific practice, what we would call commercial banking, to deposit taking entity. and to none of the rest it would be made extremely clear. as to the s
Search Results 0 to 4 of about 5

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